After #XAUUSD conducted a military strike against Iranian oil tankers in the United States, Brent crude oil prices once pushed close to the $100 mark. In the past, war escalation often directly benefited gold; however, against the backdrop of current monetary tightening, the surge in oil prices has intensified the market’s concerns about a global “reflation.” Investors have already realized that high oil prices will force the Federal Reserve to adopt a more aggressive interest-rate policy. This has led to a stronger U.S. dollar and a continued decline in gold prices. Current key support is at 4375; if this level cannot be defended, gold will keep searching for support around 4350! Short-term short positions continue to profit!